Canadian Gold Resources Ltd. Finalizes Bulk Sample Extraction Schematics and Procedures for Bulk Sample Program at Lac Arsenault Project, QuebecMay 22, 2025 8:38 AM EDT | Source: Canadian Gold Resources Ltd.Dieppe, New Brunswick--(Newsfile Corp. - May 22, 2025) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce that it has finalized the bulk sample extraction schematics and procedures for a bulk sampling program at its 100%-owned Lac Arsenault ...

Canaan (CAN) Q1 2025 Earnings Call May 20, 2025 08:00 AM ET Company Participants Gwyn Lauber - Director - Investor RelationsNangeng Zhang - Chairman & CEOJames Cheng - Chief Financial OfficerMichael Donovan - Equity Research AssociateBill Papanastasiou - Vice President Conference Call Participants Kevin Cassidy - Senior Research AnalystMike Grondahl - Head of Equity sales, Trading & Research - Senior Research AnalystNick Giles - Senior Research AnalystJoe Flynn - Senior Research Analyst Operator Ladies and ...

Canaan (CAN) Q1 2025 Earnings Call May 20, 2025 08:00 AM ET Speaker0 Ladies and gentlemen, thank you for standing by, and welcome to Canons Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the management prepared remarks, we will have a question and answer session. Please note that this event is being recorded. Now I'd like to hand the conference over to your speaker today, Ms. Gwynne Lauber, Investor Relations Director of the co ...

Core Viewpoint - 嘉楠科技 reported strong revenue growth in Q1 2025, but faced increased losses per share compared to the previous year [1] Financial Performance - Q1 2025 revenue reached $82.8 million, a year-over-year increase of 135.9%, exceeding market expectations [1] - The company reported a loss per share of $1.79, compared to a loss of $1.06 per share in the same period last year [1] - Gross profit was $600,000, a significant improvement from a gross loss of $37.3 million in the previous year [3] Mining Operations - Total computing power sold was 5.5 million TH/s, representing a year-over-year increase of 62.6% [2] - Mining revenue amounted to $24.3 million, up 131.9% year-over-year, with 259 bitcoins mined at an average revenue of $93,466 per bitcoin [2] - Mining costs for Q1 2025 were $22.9 million, compared to $14.9 million in Q4 2024 and $12.2 million in the same quarter of the previous year [2] Cash Position - As of March 31, 2025, the company had cash reserves of $96.8 million, slightly up from $96.5 million as of December 31, 2024 [4] Guidance and Outlook - Due to new tariffs imposed by the U.S. government, which have created significant uncertainty in the bitcoin mining industry, the company has withdrawn its previous revenue guidance for the full year 2025 [5] - For Q2 2025, the company currently expects total revenue to be approximately $100 million [6]

Core Viewpoint - 嘉楠科技 reported strong financial performance in Q1 2025, driven by robust self-mining operations and significant growth in revenue and sales power [1][2][3] Financial Performance - Total revenue for Q1 2025 reached $82.78 million, exceeding the previous forecast of $75 million and representing a 135.9% increase year-over-year [1][3] - The company achieved a total sales power of 5.5 million TH/s, a 62.6% increase compared to the previous year [1][2] - Self-mining revenue amounted to $24.25 million, a 131.9% year-over-year increase, with 259 bitcoins mined at an average income of $93,466 per bitcoin [1][2] Cost and Profitability - Gross profit for Q1 2025 was approximately $650,000, a significant improvement from a gross loss of $37.33 million in the same quarter last year [1][3] - Total operating expenses were $38.28 million, a decrease from $49.29 million in Q4 2024 but an increase from $30.72 million in Q1 2024 [3] EBITDA and Earnings Per Share - Adjusted EBITDA for Q1 2025 was a loss of $38.13 million, compared to a profit of $19.27 million in Q4 2024 and a loss of $25.98 million in Q1 2024 [4] - Basic and diluted net loss per American Depositary Share (ADS) was $0.27, an improvement from $0.33 in Q4 2024 but worse than $0.16 in Q1 2024 [4] Cryptocurrency Holdings and Market Outlook - As of March 31, 2025, the company held 1,468.1 bitcoins, with a total fair value of cryptocurrency assets and receivables amounting to $125.9 million [5] - Due to recent U.S. tariff measures causing significant uncertainty in the bitcoin mining industry, the company has withdrawn its previous full-year revenue forecast for 2025 [5] - For Q2 2025, the company anticipates total revenue of approximately $10 million, reflecting current market dynamics and changing customer demand [5]

Company Performance - Canaan reported a quarterly loss of $0.27 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, and compared to a loss of $0.16 per share a year ago, indicating an earnings surprise of -80% [1] - The company posted revenues of $82.78 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 7.11%, but showing significant growth from year-ago revenues of $35.09 million [2] - Over the last four quarters, Canaan has surpassed consensus EPS estimates just once, while it has topped consensus revenue estimates three times [2] Stock Outlook - Canaan shares have lost about 60% since the beginning of the year, contrasting with the S&P 500's gain of 1.4% [3] - The current consensus EPS estimate for the coming quarter is -$0.08 on revenues of $134.65 million, with a breakeven estimate on revenues of $664.2 million for the current fiscal year [7] - The estimate revisions trend for Canaan is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] Industry Context - The Financial - Miscellaneous Services industry, to which Canaan belongs, is currently in the bottom 45% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Canaan's stock performance [5]

Total revenues of US$82.8 million exceeded guidance, up 135.9% YoYBitcoin mining revenues reached US$24.3 million, up 131.9% YoYSINGAPORE, May 20, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced its unaudited financial results for the three months ended March 31, 2025.First Quarter 2025 Operating and Financial HighlightsTotal revenues were US$82.8 million, which beat the guidance of US$75 million and increased 135.9% year-over-year.T ...

Core Viewpoint - Canaan Inc. has received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement for its American depositary shares (ADSs), which has been below US$1.00 for 30 consecutive business days [1][2]. Compliance Period - The company has been granted a 180-calendar-day compliance period until November 10, 2025, to regain compliance by ensuring the closing bid price of its ADSs meets or exceeds US$1.00 for at least 10 consecutive business days [2][3]. Potential for Extension - If compliance is not regained by the deadline, Canaan may be eligible for an additional 180-calendar-day compliance period, provided it meets other listing requirements and notifies Nasdaq of its intention to cure the deficiency [3]. Monitoring and Actions - The company intends to monitor the closing bid price of its ADSs closely and will take reasonable measures to regain compliance with Nasdaq's minimum bid price requirement [4]. Company Overview - Canaan Inc., established in 2013, specializes in ASIC high-performance computing chip design and production, and is known for shipping the first batch of ASIC mining machines for bitcoin under the brand name Avalon [5].

Core Viewpoint - Canaan Inc. has demonstrated its ability to maintain a cost-effective bitcoin mining operation while expanding its global footprint and increasing bitcoin holdings, despite facing challenges such as a decline in bitcoin prices [2][3]. Mining Operations Update - In April 2025, Canaan mined a total of 87 bitcoins, bringing its total holdings to 1,424 bitcoins by the end of the month [5]. - The company's total deployed hashrate reached 8.15 EH/s, with an operating hashrate of 6.20 EH/s, maintaining a competitive all-in power cost of US$0.044/kWh [5][3]. - North American operations contributed significantly, with projects in Pennsylvania and Texas adding over 1.5 EH/s to the installed computing power [3]. Geographic Expansion and Efficiency - Canaan's non-North American operations, particularly in Ethiopia, achieved an average uptime of 95% in April, demonstrating resilience and efficiency despite minor power disruptions [4]. - The average miner efficiency in North America was recorded at 20.1 J/TH, while non-North America had an average of 30.8 J/TH, leading to a global average of 27.4 J/TH [6]. Financial and Strategic Developments - The company terminated a second tranche of a preferred share financing agreement worth US$100 million due to unforeseen market conditions, following the successful closing of the first tranche [12]. - Canaan has entered into new hosting agreements in North America, expected to enhance its self-mining capacity by approximately 4.7 EH/s [13]. Product Innovation - Canaan has completed the taped-out process for its next-generation bitcoin mining machine, the Avalon A16 series, and plans to release performance data and sample units upon full system testing [14].

SINGAPORE, May 12, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it plans to report its financial results for the first quarter ended March 31, 2025, before the U.S. market opens on May 20, 2025.The Company's management team will hold a conference call at 8:00 A.M. on May 20, 2025, U.S. Eastern Time (8:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details for the conference call are as follows: E ...